IT stocks power Nifty above 23,100 in mid-session trade; aviation, FMCG drag
Executive Brief • Key Highlights
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- ✓Nifty crossed 23,100 in mid-session trade on Friday as IT stocks powered the rally.
- ✓Tech Mahindra surged 8.04 per cent, leading the gains for the sector.
- ✓While telecom and auto stocks also helped, aviation and FMCG shares fell.
Story at a Glance
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- MARKET
- Reported By
- Business Line
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
Benchmark indices held gains through mid-session on Friday, with the BSE Sensex trading at 74,557.70, up 242.09 points or 0.33 per cent, and the NSE Nifty 50 at 23,097.35, up 100 points or 0.43 per cent, as of 1 pm. The market has crossed the 23,100 mark, a level analysts flagged as the key breakout trigger in the morning, though it has yet to sustain a close above it. Frontline indices have now formed higher intraday lows for the third consecutive session.
Information technology stocks continued to anchor the rally. Tech Mahindra was the top performer on the Nifty 50, surging 8.04 per cent to ₹1,782.60 after touching an intraday high of ₹1,797.00. TCS advanced 4.15 per cent to ₹2,447.50, while Infosys gained 3.68 per cent to ₹1,150.90. The Nifty IT index is now in its fourth consecutive session of gains, making it the best-performing sectoral index of the day.
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